Bailout of Cyprus to cost depositors 10% immediately

Clawhammer said:
If only there was somewhere we could put our wealth as a longterm store of value :(
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Yes, somewhere that's stood the test of time through many a banking crisis. If only there was such a safe harbor. :(
 
Clawhammer said:
If only there was somewhere we could put our wealth as a longterm store of value :(
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I think I found the next big thing!

They call it the US dollar.

I saw it last night on the idiot box.

[youtube]http://www.youtube.com/watch?v=UZXX5i8tj5s[/youtube]
 
^^^ :lol: :lol: :lol:

Whoever wrote that girls script is either insideous or incredibly naive
 
Holy Cr@p!!! Gold is backed by nothing, but the $US is backed by the United States and will be around a lot longer!!?!

That's it.. I'm buying more gold!!!
 
The world has been reduced to a state of utter stupidity when people can't even image something so useful, so rare, so valuable that it doesn't need backing. Rather like moral codes and other useless stuff. Oh well, keep stacking, prepare the retreat, wait for the STHF and shoot any intruders. It'll all be academic one day.
 
If she was going to say something that dumb, she should could of at least done us a favour and showed some cleavage
 
Just reported on the ABC News cyprus has proposed a 20% theft from all accounts over $120,000 (equivalent).

P.S.
I just keep going back and re-watching valuecreator's video of that brainwashed reporter. I am absolutely flabberghasted that anyone could actually say what she said. Also; "The fall in the price of gold has been in part caused by investors selling off to make up for losses in other areas..."
 
I find it a little amusing that they thought joining the euro would give them the security & backing of a decent currency & now theyre in trouble theres not much help forthcoming from the rest of the eurozone .

For it to have worked they needed to all back each other to the end not say "your broke bad luck sort it out yourself "

To me it would be like one of the oz states going broke & then the pm saying bad luck now your on your own . you can start your own bananaland dollar

It had fail written all over it to begin with .Theres too many variables in the amount of countries that are in the euro imo
 
Orh!! Come'on Reno... next you'll be saying letting Lithuania and Latvia into the EU was a mistake ;)
 
renovator said:
I find it a little amusing that they thought joining the euro would give them the security & backing of a decent currency & now theyre in trouble theres not much help forthcoming from the rest of the eurozone .

For it to have worked they needed to all back each other to the end not say "your broke bad luck sort it out yourself "

To me it would be like one of the oz states going broke & then the pm saying bad luck now your on your own . you can start your own bananaland dollar

It had fail written all over it to begin with .Theres too many variables in the amount of countries that are in the euro imo
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I was going to write a counter-argument to your Australian states example about how the Commonwealth would step in BEFORE things got too bad... but then I realised that I'm in a State that's effectively broke with more than 10years worth of debt to pay-off :(
 
I'm sure when the eurozone was formed, the TPTB thought globalisation and the loss of sovereignty would have proceeded quicker and be met with less resistance than it has. I'm sure if they could start over they would dissolve national governments and democracy as it simply gets in the way.
 
Clawhammer said:
renovator said:
I find it a little amusing that they thought joining the euro would give them the security & backing of a decent currency & now theyre in trouble theres not much help forthcoming from the rest of the eurozone .

For it to have worked they needed to all back each other to the end not say "your broke bad luck sort it out yourself "

To me it would be like one of the oz states going broke & then the pm saying bad luck now your on your own . you can start your own bananaland dollar

It had fail written all over it to begin with .Theres too many variables in the amount of countries that are in the euro imo
Click to expand...

I was going to write a counter-argument to your Australian states example about how the Commonwealth would step in BEFORE things got too bad... but then I realised that I'm in a State that's effectively broke with more than 10years worth of debt to pay-off :(
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lol you did notice my bananaland currency line ? .Sly dig at qld ...couldnt help myself
 
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